(MENAFN- ProactiveInvestors - Australia) Roc Oil (ASX: ROC) has spudded its second exploration and appraisal well in the Zhanghai Block, Bohai Bay offshore China.
Should the ZD CP2N-H-2 well be a commercial success, it will then be tied-in to the existing Zhao Dong facilities.
ZD CP2N-H-2 is also the final obligation well for the Zhanghai Block, one of two adjoining blocks that were added to the Zhao Dong Block in March 2011.
The Zhao Dong fields had averaged gross oil production of 20,503 barrels of oil per day during the September 2012 quarter, a 19% increase to the previous quarter due to continued development drilling on C4 and C&D oil fields which resulted in additional development wells coming online during the 3Q 2012.
Roc has a 80% working interest in the H-2 well with the remaining 20% held by Sinochem.
The working interests in any developments in the two additional blocks are PetroChina 51%, ROC 39.2% and Sinochem 9.8%.
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